 "ITC hotels")
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Shares of ITC Hotels Ltd, the demerged hotels business of FMCG conglomerate ITC Ltd, will list on the stock exchanges on January 29.
Demerger of ITC's hotel business came into effect on January 1, 2025, with January 6 fixed as the record date. The move separated ITC Hotel from the parent entity.
Following this, the equity shares of ITC Hotels will be listed and admitted to dealings on the exchange with effect from January 29, 2025, according to a circular by the National Stock Exchange (NSE).
"The equity shares of ITC Hotels Limited...shall be traded in Series 'BE' and subsequently be shifted to Series 'EQ'," it added.
Separately, ITC, in a regulatory filing, informed that ITCHL received approval from the National Stock Exchange of India Ltd and BSE Ltd for listing and trading of its equity shares effective January 29, 2025.
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On January 6, the BSE and NSE conducted a special trading session to discover the price for ITC hotels business post demerger.
As per the demerger scheme, ITC shareholders will receive one share of ITC Hotels for every 10 shares of ITC.
Overall, existing ITC shareholders will hold 100 per cent of ITC Hotels, i.e. about 60 per cent directly and a balance of about 40 per cent through their shareholding in ITC.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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